Foreign Buyers Helping Florida Real Estate Turn Around

Battered by one of its worst metaphoric storms—that of the plunging economy—Florida has struggled. The Sunshine State has been on national top ten lists of declining property values and foreclosures for months, if not years. But finally, with happier statistics in places like Miami and Orlando, we’re seeing sunny skies return to Florida real estate.

Much of this turn-around is attributed to foreign buyers, who may be purchasing Florida property either for investment or for permanent residence. The National Association of Realtors reported that between May 2011 and January, the Miami metro area accounted for 30% percent of international sales in Florida, while the Orlando area accounted for 14%. Local agents, quoted on Inman news, think this figure is actually under-estimated, as foreign buyers can also buy under a company or LLC name, rather than as an individual. In those cases, they may not get tracked as “foreign.”

Attracted by good value for these properties, warm climates, and America’s openness to international buyers, foreigners are helping Florida cities regain their real estate footing. But most of those same aspects that appeal to an international audience should appeal to a national one as well. If you’re interested in the value and beauty of Florida real estate, start your search here.

Anna Marie Erwert writes from both the renter and new buyer perspective, having (finally) achieved both statuses. She focuses on national real estate trends, specializing in theSan Francisco Bay AreaandPacific Northwest. Follow Anna on Twitter: @AnnaMarieErwert.